Agenda item

The Committee considered a report of the Corporate Director Resources which provided details of the Annual Treasury Management Review and final outturn on treasury management activities for 2016/17 (for copy see file of minutes).

The Finance Manager for Revenue, Pensions and Technical reported that total borrowing totalled £34.9m, with new borrowing at £20m.  Investments had come in at £5.7m, over the original budget of £1.6m due to the dividend received for Newcastle Airport Shares.

Councillor Carr queried why nothing was shown about Durham County Cricket Club and the Finance Manager for Resources and Transformation and Partnerships explained that the deal to convert the loan was signed on 30 June and therefore would be shown in the extra disclosure notes.  Therefore, at 31 March 2017 the deal had not been finalised.

Resolved:

That the report be noted.